Three Hills closes third fund on €540m hard cap

The fund hit its hard-cap after completing a first close in September on its €400m target. The vehicle is more than double the size of its predecessor Three Hills Decalia, closed in 2016 on €200m. The fund was managed by Three Hills in partnership with Geneva-based investment firm Decalia.

The GP was advised by placement agent Rede Partners for the THCS III fundraise.  

Founded in 2013, London-based THCP currently has an AUM of more than €1bn, according to a statement.  

Investors
Institutional investors, family offices and high-net-worth individuals have made commitments to the vehicle. Over half of THCS III’s backers are new institutional investors based in Europe, North America and Australasia.

Investments
Via its latest fund, THCP will back European mid-market businesses, providing equity for minority stakes, as well as debt securities. The GP claims its strategy has historically delivered consistent double-digit IRRs.

THCS III is currently 20% invested across two investments: Recycling Lives, a UK-based, tech-enabled international waste and recycling management business; as well as ACT, a Netherlands-based intermediary in niche energy commodities markets.

People
Three Hills Capital Partners - Mauro Moretti (founder, managing partner).

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